Tyeb Mehta's 'Kali' sells for record Rs 5.72 crore

Master artist Tyeb Mehta scaled a new record in Indian art as his 1998 untitled work went for Rs 5.72 crore at Saffronart's auction, setting a new record in online bidding. Mehta's Untitled (Kali) painting was sold for the record price at the two-day auction that concluded on June 16 and fetched a total of Rs 17.5 crore in sales.

The 30 inches x 24 inches painting that eventually sold much higher than its presale estimate of Rs 1.25-1.75 crore, was the last Mehta did in his 'Kali' series. The artist, whose works are characterised by typical diagonal movements, flat coloured panes and off-centre focal points was a member of the Progressive artist movement that includes the likes of F N Souza, S H Raza and M F Hussain.

A combination of relative rarity, great aesthetic value and excellent provenance played a role in the premium price Tyeb's Untitled (Kali)' commanded, said Dinesh Vazirani, CEO and Co-founder, Saffronart. Previously on June 9, a Mehta painting Untitled (Rickshawpuller) had gone for $3,238,103 (around Rs 14 crore) at Christie's summer auction becoming the second most expensive work sold of a contemporary Indian artist.

S H Raza's Saurashtra, which sold for Rs 14.18 crore in the same auction in 2010 holds the record first place for being the most expensive. In 2002 his triptych Celebration had sold at Christie's for Rs 1.5 crore (over one million) the highest sum for an Indian painting in an international auction that subsequently triggered a boom in Indian art.

A monumental gilded head by G Ravinder Reddy fetched three times more than the estimate of Rs 40,00,000-50,00,000, netting Rs 1,13,99,375. Manjit Bawa's luminous 1993 canvas Nayika, went for Rs 1.08 crore; S H Raza's 1951 Carcassonne, featured on the cover of the auction catalogue, fetched Rs 95 lakh and Jehangir Sabavala's early canvas, The Bangle Sellers was purchased for Rs 87.5 lakh . The Safffonart's summer art auction featured 65 lots by 30 modern and contemporary Indian artists. The world record bid we received of over $1 million from a collector using the Saffronart auctions mobile application speaks volumes for our clients' confidence in using our technology, Vazirani added.